4,639 Shares in FedEx Corporation $FDX Acquired by Ancora Advisors LLC

Key Points

• Ancora Advisors acquired 4,639 FedEx shares worth approximately $1.45 million in the second quarter. Other institutional investors also initiated sizable positions, and institutions and hedge funds now own 84.47% of FedEx stock.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share, while shares recently opened at $331.45. Analysts hold a “Moderate Buy” consensus rating with an average price target of $350.54.
• FedEx declared a quarterly dividend of $1.22 per share, equivalent to $4.88 annually and a 1.5% yield; the company’s payout ratio is 26.36%.

Ancora Advisors LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,639 shares of the shipping service provider's stock, valued at approximately $1,453,000.

Other institutional investors also recently bought and sold shares of the company. Primecap Management Co. CA acquired a new position in FedEx during the 2nd quarter valued at approximately $2,554,138,000. Canada Pension Plan Investment Board acquired a new position in shares of FedEx in the 2nd quarter valued at $283,792,000. Castleark Management LLC purchased a new position in FedEx in the 2nd quarter worth $313,000. Legal & General Group Plc purchased a new position in FedEx in the 2nd quarter worth $448,121,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in FedEx during the 2nd quarter worth about $78,560,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FedEx stock opened at $331.45 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a twelve month low of $177.05 and a twelve month high of $345.36. The business has a 50-day moving average price of $319.23 and a 200 day moving average price of $350.85. The firm has a market cap of $78.44 billion, a PE ratio of 17.91, a P/E/G ratio of 1.73 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. Sell-side analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a dividend of $1.22 per share. The ex-dividend date is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio is currently 26.36%.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company's stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on FDX shares. Seaport Research Partners began coverage on FedEx in a research note on Wednesday, May 27th. They set a "buy" rating on the stock. HSBC dropped their target price on FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a research report on Monday, June 1st. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a report on Wednesday, June 24th. Bank of America lifted their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Finally, Truist Financial dropped their price objective on shares of FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and an average target price of $350.54.

FedEx Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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